Alan D. Theriault

RECENT POSTS BY ALAN D. THERIAULT

By Alan D. Theriault | Oct. 13, 2003

We're in the heat of the battle, NCUA's Dennis Dollar recently told CUNA's News Now about the threat of taxation. If credit unions lost the war, the structure of how credit unions do business would dramatically change, he warned. Dollar said credit union conversions to banks could become the end result if banks win the tax war, reported the CUNA publication.

By Alan D. Theriault | Aug. 11, 2003

Proposed regulations could be used by trade associations to prevent bank charter conversions.

By Alan D. Theriault | July 14, 2003

Credit union leaders continue to underscore the need for alternative forms of capital. However, a legislative solution is unlikely, especially since Congress, in 1998, provided the means for credit unions to access the capital markets by way of conversion to a mutual savings bank charter. In addition, larger banks and mortgage companies are starting to join the fight by smaller banks to slow down credit union growth. Since access to capital would support even faster growth, opposition to such a move will be fierce. The US Treasury Department is also likely to continue to oppose alternative forms of capital for credit unions.

 

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By Alan D. Theriault | May 12, 2003

The NCUA Board is pushing credit unions to get involved with business lending - in particular making loans banks won't make, as NCUA Board Member Deborah Matz recently told a reporter. In the same article, NAFCU President Fred Becker agreed, implying small businesses are being ignored by banks.

By Alan D. Theriault | April 14, 2003

Last month a credit union tried to buy a bank in order to gain market share, obtain economies of scale, and to diversify its loan portfolio. Good strategy, but the effort failed because federal law prohibits federally insured credit unions from counting anything but retained earnings as regulatory capital, and the credit union needed more regulatory capital to do the deal.

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